• In May 2017 high
activity on EM international bond market remained unaltered;

• Volume of new
issues last month has reached $59.6 bn which is approximately equal to the
value of May 2016, however from the beginning of the year volume of new issues
51% higher than for the same period in 2016;

• Tap issue of
Petrobras consisting of three tranches with agregate volume of $4 bn has become
the biggest issue in May;